Foreigners are getting serious about “Buying American” real estate.
The National Association of Realtors released a report Tuesday that said foreign buyers and recent immigrants spent an estimated $153 billion on American properties in the year ending March 2017. That was a 49% increase over the previous year and the highest level since record-keeping began in 2009.
The purchases accounted for 10% of the total value of existing home sales in the U.S. The report did not include new homes.